In a major development, KP approves funds to install cryptocurrency mining plant

Cryptocurrency is a decentralized means of carrying out transactions virtually.

The KP government has sanctioned funds for installing a cryptocurrency mining plant after the province decided to issue No Objection Certificates (NOCs) to interested businesses.

Following this, the KP Advisor on Information Technology, Ziaullah Bangash, said that the provincial government had approved the release of funds needed to establish a mining plant.

Cryptocurrency is a decentralized means of carrying out transactions virtually and is not controlled by the federal government and banks, while people can create them via mining.

Bangash added, “We will issue no-objection certificates to people who want to mine for the currency on their own as well. The world has been adapting to new changes fast; their affinity towards cryptocurrency means an excellent opportunity for investments in this field.

“We have already passed the proposal for funds from the KP assembly,” he informed.

What are your views on this? Share in the comments bar below.

  • These guys have no foresight at all. If crypto takes off in Pakistan then the electricity usage willl go through the roof. There is already a shortage leading to load shedding in the summer.

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